Rome's historic clothing outlet Magazzini Allo Statuto, better known as MAS, is to close at the end of the year (for real this time), with 50 per cent off all items until 31 December.

Located on Via dello Statuto in the Esquilino area of the city, between Piazza Vittorio and Via Merulana, the warehouse has sold an enormous array of cut-price clothes, shoes, jewellery, sports gear, linen and luggage for over a century.

Beloved of Romans, students, ethnic communities, people going camping or in search of offbeat fancy-dress costumes, the four-storey outlet is something of an institution in Rome and caters for about as wide a range of customers as possible.

However it is also known for its less-than tasteful clothing, some of which was satirised in a light-hearted music video by Roman rapper Piotta in 1998.

Over the years it has become noted for its frequent "closing down" sales, only to remain open. This time though it appears the closure is for real, with some commentators blaming increasing competition from even lower-cost Chinese shops in the capital.